Is Luxembourg the perfect replacement for the City and Canary Wharf

If you’re looking for a tiny, beautiful, historic country that’s a world leader in finance and fintech, Luxembourg is your destination.

Most people are slightly confused at the mention of Luxembourg, as it tends towards keeping its secrets away from the madding crowds. Expat professionals in the field of finance, however, are well aware of the little country and its enviable position as the world’s second largest hub for investment funds. Not only that, as it’s also third in the world for growth promise indicators and one of the most productive on the planet. It’s all deliberate, organised by the government with regularly updated legal frameworks ensuring a forward-looking, reliable base for banks, insurance giants and innovative tech firms.

As regards lifestyle, its small capital city is an historic, medieval treasure overlooking two stunning valleys dotted with villages and small towns. Multilingualism comes as standard, with French, English, and the local lingo Luxembourgish heard everywhere, although the finance sector uses mostly English. The majority of expat professionals live in one of five popular locations close to the centre, with a few living in more countrified locations outside town and a small number commuting across the border from Germany, Belgium or France.

For finance professionals looking to leave the UK due to Brexit, it has to be said Luxembourg City is in itself an expensive luxury, especially where housing is concerned. The influx of highly paid financial professionals has resulted in rental and purchase costs soaring to new heights, and the daily commute involves queuing up with some 200,000 cross-border motorists from outside the Grand Duchy itself. The otherwise relaxed lifestyle does compensate, but construction work on the roads doesn’t help.

One bonus is the short distances between the tiny country and major cultural cities including Paris, London and Amsterdam, opening up access not only to business contacts but to the high-style cultural events Luxembourg seems not to be able to provide. For those bringing their families along, safety and security is a big bonus, and there’s an increasing choice of international schools. Another bonus is the diversity of the expat community, acting as a melting pot without segregation into national groups. All told, this tiny state offers a unique expat experience for those with the right qualifications.